From a former managing director at Blackrock:
“Secretary Mnuchin would have nearly free rein to use that $500 billion to bail out any corporation he pleases, with almost no conditions, and would merely have to “make himself available” to testify before Congress on those decisions after the fact. The most absurd part is that there is nothing that would require these companies to retain their workers in exchange for a bailout.
Anyone familiar with Secretary Mnuchin’s record of padding the pockets of his rich friends, and the Trump administration’s long and storied history of self-enrichment, should know this is nowhere even in the realm of adequate oversight. In what world does it seem like good economic practice to hand half a trillion dollars in taxpayer money to Secretary Mnuchin, a man whose only previous political achievement was helping pass a nearly $2 trillion tax cut for millionaires, billionaires, and corporations?
Instead of forcing American taxpayers to spend $500 billion subsidizing a fund for Secretary Mnuchin, that money would be far better spent going directly back to the people, by ensuring financial security for poor and middle-class Americans in the months it will take to be rid of this disease. Our economy can survive without a few more corporate bailouts at the whims of the Trump administration, but it cannot survive millions of people who need to work for a living becoming destitute. We need to do more for working people right now, not waste time and taxpayer money on a slush fund for rich business owners.“
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
